What Are Your Options for Getting Cash Abroad?

Just in time for summer travel, banks have ramped up their fees on using plastic overseas, charging customers as much as 3% for credit-card purchases or cash advances.

So what’s your best option for getting cash abroad?

ATMs continue to be the predominant — and usually cheapest — way to obtain cash. Before you go, find out what fees your bank or credit union charges for using a credit or debit card overseas. Some banks, like Citibank, have expansive ATM networks abroad, so you might be able to avoid paying an out-of-network ATM fee, but you should research ATM locations at your destination before you leave.

Visa and MasterCard typically charge card users a 1% fee for converting U.S. dollars into foreign currencies. This charge can apply to credit or debit cards with a Visa or MasterCard logo, and usually comes atop your bank’s own charge, which can be 2% to 3% per transaction.